Magellan Health, Inc. (NASDAQ: MGLN), a healthcare management company specializing in special populations and pharmacy benefits management, has just acquired privately held Veridicus Holdings, LLC. The sellers are Gauge Capital, company management and other unnamed backers. Based in Salt Lake City, Veridicus is a pharmacy benefit management (PBM) company that uses proprietary software to integrate pharmacy, medical and lab data to drive targeted interventions for complex patient populations.

The $74.5 million deal gives Magellan access to Veridicus’ 225,000 members. Veridicus also owns and operates a fully licensed insurance company which serves members enrolled in the Medicare Part D Employer Group Waiver Plan program.

Pharmacy benefit management seemed to be a growing sector in 2015. However, that momentum came to a screeching halt this year. In 2015, six PBM companies were acquired, which is equal to 2013’s (four deals) and 2014’s (two) deals combined. Of those six deals, five had disclosed prices, totaling $15.3 billion spent that year.

In 2016, only two deals targeting a PBM have been announced, as of November 23. The previous deal was made by The Carlyle Group LP (NASDAQ: CG), which acquired WellDyneRx, Inc. for an undisclosed price in August.

Other PBM companies are the most active acquirers in this sector, with only a handful of managed care companies and private equity firms participating, as well.